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Oct 2, 2012
10/12
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KQED
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ben bernanke defends his strategy at the federal reserve to do more to help the economy. >> susie: and how technology is making it possible for doctors to go paperless. >> tom: that and more tonight on "n.b.r."! >> susie: the first day of the new quarter, kicks off with a blue chip rally. investors were encouraged by a report showing that american factories were busy in september. a popular index of national factory activity rose to 51.5 last month, from 49.6 in august. it was the fastest pace of production since may. but that upbeat news was overshadowed by comments from federal reserve chief ben bernanke, saying the economy is not growing fast enough to bring down the unemployment rate. we'll have more on that in a moment. those two events led to volatile trading here on wall street. the dow rose about 78 points, but was up as much as 155 points earlier. the nasdaq drifted in and out of positive and negative territory, finally losing more than 2.5 points, and the s&p rose almost four points. and, as suzanne pratt reports there are conflicting views on the state of american manufactur
ben bernanke defends his strategy at the federal reserve to do more to help the economy. >> susie: and how technology is making it possible for doctors to go paperless. >> tom: that and more tonight on "n.b.r."! >> susie: the first day of the new quarter, kicks off with a blue chip rally. investors were encouraged by a report showing that american factories were busy in september. a popular index of national factory activity rose to 51.5 last month, from 49.6 in...
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rich, you've been all over ben bernanke's defense of qe3. i thought he had a lot of interesting things to say. break it down for us. >> reporter: really a point-by-point defense of all the criticism he's been getting over the years on quantitative easing and now the expansion of that, talking about some criticism that low borrowing cost is encouraging the federal government to borrow and spend more money. he says, look, that's all set by congress and the administration, has nothing to do with us. he also talks about people who try to save money, put money in cds or bank accounts. he said overall for the economy savers will benefit by qe2, by qe3 because the economy overall will be better. he says he's not monetizing the debt. he says the fed will unwind all of this when it comes time, and he says he expects this type of monetary policy will be in place for a considerable amount of time after the economy strengthens. he also addressed a question posed to him by the fox business network asking whether or not the united states is currently in a
rich, you've been all over ben bernanke's defense of qe3. i thought he had a lot of interesting things to say. break it down for us. >> reporter: really a point-by-point defense of all the criticism he's been getting over the years on quantitative easing and now the expansion of that, talking about some criticism that low borrowing cost is encouraging the federal government to borrow and spend more money. he says, look, that's all set by congress and the administration, has nothing to do...
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Oct 1, 2012
10/12
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MSNBCW
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fed chair ben bernanke's latest take on the economy will also get a lot of attention when minutes from the federal reserve's latest policy meeting are released. september auto sales are also on tap. some experts predict sales are up nearly 11% over last year. >>> meanwhile, according to aaa, the price of regular gas is down about five cents in the past week to an average $3.81 a gallon. >>> overseas this morning, uncertainty about spain's bailout weighed down asian stocks. thousands filled spain's capital this weekend to protest sweeping budget cuts and austerity measures included in a 2013 draft budget. >>> elsewhere, on the heels of apple's flawed debut of its new mapping app, nokia and oracle customers will have access to nokia's data and location services. >> hewlett-packard is set to roll out a new tablet device today that will work with microsoft's new windows 8 operating system. the elite pad 900 comes at a time when, according to new research, half of all adult americans now own either a tablet computer or a smart phone. >>> and finally, who says that crime doesn't pay? two gun
fed chair ben bernanke's latest take on the economy will also get a lot of attention when minutes from the federal reserve's latest policy meeting are released. september auto sales are also on tap. some experts predict sales are up nearly 11% over last year. >>> meanwhile, according to aaa, the price of regular gas is down about five cents in the past week to an average $3.81 a gallon. >>> overseas this morning, uncertainty about spain's bailout weighed down asian stocks....
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you saider ben bernanke. right. national bureau of economic research they have been slow to call recessions. 1970 downturn they waited eight to nine months to call recession. just this past recession they called it in september 2010, about a year after it had ended. that is the issue here. when will the officials come out and say we're in a recession? we don't know whether we are but sure feels like one that we're close to a double-dip, if not just flat-lining right now given that business confidence has taken a hit. we saw the business round table come out and say look, our confidence is a three-year low for business executives. ashley: yep. >> is it just a fiscal cliff or is it more? that is what we're trying to get to the bottom of. federal reserve district the report slowing down economic activity in a number of regions including philadelphia and kansas city. ashley: plenty to chew on. emac, thank you very much. tracy: we need replacement refs? ashley: there you go. tracy: viewers cutting too deep for their own
you saider ben bernanke. right. national bureau of economic research they have been slow to call recessions. 1970 downturn they waited eight to nine months to call recession. just this past recession they called it in september 2010, about a year after it had ended. that is the issue here. when will the officials come out and say we're in a recession? we don't know whether we are but sure feels like one that we're close to a double-dip, if not just flat-lining right now given that business...
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Sep 25, 2012
09/12
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FBC
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his boss, ben bernanke, saying, things are really ugly. i have the numbers. i think that probably we should do something now because it is serious. lou: always put that away. whether it is serious the fact of the matter is this housing market looks like it is offering some support. but when you look at the broader , macro economic reality you have to question even whether this is an illusion. i think -- >> it is not inconsistent to look at the housing market. going down so low for so long with interest rates so low. people have to live somewhere. iran has moved up. housing may have bottomed out. it does not mean we will have a bull market in housing. having said that, the economic numbers you talked about when you are reporting, can amount to a caterpillar, they have the world view. intel came up. lou: fedex. >> fedex. the company's i listened to, of washington. they say come made a good. i was in china last week. it a good over there. lou: of course moving overseas. china where there is every suggestion, one of the newest from china, is there a sense that th
his boss, ben bernanke, saying, things are really ugly. i have the numbers. i think that probably we should do something now because it is serious. lou: always put that away. whether it is serious the fact of the matter is this housing market looks like it is offering some support. but when you look at the broader , macro economic reality you have to question even whether this is an illusion. i think -- >> it is not inconsistent to look at the housing market. going down so low for so long...
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in defense of fed's latest easing, big ben bernanke making his case in moments. rich edson is standing by live in indianapolis. >> and bacon prices sizzling higher but new doubts over whether there's actually going to be a global shortage. first let's take a look at some of today's s&p winners and losers. [ male announcer ] eligible for medicare? that's a good thing, but it doesn't cover everything. only about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, they pick up some of what medicare doesn't pay. and save you up to thousands of dollars in out-of-pocket costs. call today to request a free decision guide to help you better understand what medicare is all about. and which aarp medicare supplement plan works best for you. with these types of plans, you'll be able to visit any doctor or hospital that accepts medicare patients... plus, there are no networks, and you'll never need a referral to see a
in defense of fed's latest easing, big ben bernanke making his case in moments. rich edson is standing by live in indianapolis. >> and bacon prices sizzling higher but new doubts over whether there's actually going to be a global shortage. first let's take a look at some of today's s&p winners and losers. [ male announcer ] eligible for medicare? that's a good thing, but it doesn't cover everything. only about 80% of your part b medical expenses. the rest is up to you. so consider an...
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lou: stock market closing out a terrific third quarter as ben bernanke's easy money policies make investors feel good. we take that up with lou, neant money line, stocks finishing lower on the day, but posting the third best quarter since 2010. the dow jones industrial's dropping 49 points. s&p is down six and a half, and nasdaq down 20, but still well off the lows of the day. dragging the market today, consumer spending, up just half a percent, increase because of higher gasoline prices. oversea, bank of spain releasing an audit showing seven of the countries failed stress tests despite anxiety about the eurozone. the big three indexes up 44% for the quarter. a federal judge today delivering a blow to the future trading commission and its effort to implement portions of the dodd-frank financial reform law. the judge rejected regulations that would have capped the amount of positions a trader can hold and the size of that position in various commodities. the chairman of the cftc says he's disappointed by the ruling and the agency is looking for new ways to get their way. well, my next guest
lou: stock market closing out a terrific third quarter as ben bernanke's easy money policies make investors feel good. we take that up with lou, neant money line, stocks finishing lower on the day, but posting the third best quarter since 2010. the dow jones industrial's dropping 49 points. s&p is down six and a half, and nasdaq down 20, but still well off the lows of the day. dragging the market today, consumer spending, up just half a percent, increase because of higher gasoline prices....
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ben bernanke will keep record low interest rates to spark the economy even after if regains momentum. >>> analysts say winter shopping will rise 4.1% this year. that's slightly lower than predictions for the last two years. >>> jpmorgan chase is the first target of the justice department investigation into the financial crisis. a civil lawsuit alleges bear stearns carried out billion of dollars in mortgage-backed securities fraud. >>> american express has agreed to pay $112.5 million to settle federal charges of illegal late fees. >>> the multi-billion dollar fraud carried out by bernard madoff began as far back as the early 1970s. this is according to a rewritten indictment bringing four charges against four long time employees. >>> a trader joe's peanut butter recall has spread to chains including whole foods, target and stop and shop. >>> honda is recalling 600,000 accords that may have a faulty power steering hose that can leak fluid and cause a fire. >>> congratulations to yahoo's marissa mayer. the new ceo and her husband welcomed their first child, a baby boy. >>> and in seattl
ben bernanke will keep record low interest rates to spark the economy even after if regains momentum. >>> analysts say winter shopping will rise 4.1% this year. that's slightly lower than predictions for the last two years. >>> jpmorgan chase is the first target of the justice department investigation into the financial crisis. a civil lawsuit alleges bear stearns carried out billion of dollars in mortgage-backed securities fraud. >>> american express has agreed to...
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Oct 1, 2012
10/12
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CNBC
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>>> plus fed chief ben bernanke getting ready to take questions. we'll take you there live when he does. ♪ chances are, you're not made of money, so don't overpay for motorcycle insurance. geico, see how much you could save. zagat just gave hertz its top rating in 15 categories, including best overall car rental. so elevate your next car rental experience with the best. >>> welcome back on "halftime." so much for that gain in the nasdaq. we've given it almost all back now. you can look at one stock primarily for the reason why. that being microsoft today, downgraded over at rbc. that stock down .66%. back in a moment. a crash management system and the world's only tridion safety cell which can withstand over three and a half tons. small in size. big on safety. try this... bayer? this isn't just a headache. trust me, this is new bayer migraine. [ male announcer ] it's the power of aspirin plus more in a triple action formula to relieve your tough migraines. new bayer migraine formula. [ male announcer ] the exceedingly nimble, ridiculously agile,
>>> plus fed chief ben bernanke getting ready to take questions. we'll take you there live when he does. ♪ chances are, you're not made of money, so don't overpay for motorcycle insurance. geico, see how much you could save. zagat just gave hertz its top rating in 15 categories, including best overall car rental. so elevate your next car rental experience with the best. >>> welcome back on "halftime." so much for that gain in the nasdaq. we've given it almost all...
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Sep 27, 2012
09/12
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FBC
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ben bernanke trying to create the wealth effect. everybody feels more wealthy because the asset prices are going up, that helps the economy come around. by the same token if you look to the democratic side of things, if you look at the other guys, now we have to expand government and that will get the economy turning. i found that odd both of those are being played together at the exact same time right now. stuart: see you again soon. according to new polls for president obama has a big lead in the female vote over mitt romney. in ohio the president leads romney 60-35 among women. now obama deputy campaign manager says women don't care about the president's record. listen to this. >> they're not really concerned about what is happening over the last four years. stuart: congresswoman joins us now. it is very hard to get around or explain the enormous lead president obama seems to have among women voters. i put it to you they're going to be president because they're getting bought on that issue. tell me i am wrong. >> i do think you'r
ben bernanke trying to create the wealth effect. everybody feels more wealthy because the asset prices are going up, that helps the economy come around. by the same token if you look to the democratic side of things, if you look at the other guys, now we have to expand government and that will get the economy turning. i found that odd both of those are being played together at the exact same time right now. stuart: see you again soon. according to new polls for president obama has a big lead in...
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Oct 2, 2012
10/12
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CNBC
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ben bernanke said he's going to continue to buy bonds to keep interest rates down, so that this purchasing manager's number won't be an aberration. when you examine the fundamental of individual stocks, you are playing what's known as the micro. when you take into account the big data numbers like the purchasing manager's index, you're making a macro analysis. again though like the idea of fighting the fed this micro/macro dichotomy might mean nothing to you unless you took ec 101. let's put it in terms that everybody can understand. anyone who's been to a museum or taken an art class knows that for years artists tried to paint pictures as if they were perfectly -- let's say they tried to capture the exact look. like a kodak camera. okay? that's called realism as the painters are indeed realistic. but as art progressed in the late 19th and early 20th century, you tend to get more -- let's say impressionist, less realist and then ultimately expressionists as the artists struggled to get beyond the four walls of the canvas, they took impressionism to the logical conclusion, coming up with sp
ben bernanke said he's going to continue to buy bonds to keep interest rates down, so that this purchasing manager's number won't be an aberration. when you examine the fundamental of individual stocks, you are playing what's known as the micro. when you take into account the big data numbers like the purchasing manager's index, you're making a macro analysis. again though like the idea of fighting the fed this micro/macro dichotomy might mean nothing to you unless you took ec 101. let's put it...
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Oct 1, 2012
10/12
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WBAL
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fed chair ben bernanke's latest take on the economy will also get a lot of attention when minutes from the federal reserve's latest policy meeting are released. september auto sales are also on tap. some experts predict sales are up nearly 11% over last year. >>> meanwhile, according to aaa, the price of regular gas is down about five cents in the past week to an average $3.81 a gallon. >>> overseas this morning, uncertainty about spain's bailout weighed down asian stocks. thousands filled spain's capital this weekend to protest sweeping budget cuts and austerity measures included in a 2013 draft budget. >>> elsewhere, on the heals of apple's debut of the flawed apple app, oracle customers sl l have access to nokia's services. >>> hewlitt packard is set to roll out a new device that will work with microsoft's new windows 8 operating system. the elite pad 900 comes at a time when, according to new research, half of all adult americans now own either a tablet computer or a smart phone. >>> and finally, who says that crime doesn't pay? two guns that belonged to famed partners in crime bon
fed chair ben bernanke's latest take on the economy will also get a lot of attention when minutes from the federal reserve's latest policy meeting are released. september auto sales are also on tap. some experts predict sales are up nearly 11% over last year. >>> meanwhile, according to aaa, the price of regular gas is down about five cents in the past week to an average $3.81 a gallon. >>> overseas this morning, uncertainty about spain's bailout weighed down asian stocks....
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Oct 2, 2012
10/12
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KTVU
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it wasn't monday night football, but fed chairman ben bernanke was decidely defending yesterday. he said the fed needs to continue lowering borrowing rates while the economy continues to grow slowly, and that its bond-buying strategy will continue. he insisted that five years of low interest rate policies have not increased inflation. the fed plans to hold the interest rate near zero until at least mid- 2015. bernanke also indicated that there is not another recession on the horizon, but the economy still isn't strong enough to add jobs faster than the current rate. in greece, union workers are preparing for more 24-hour strikes and walk-outs this month. workers are protesting the government's austerity measures. government officials submitted a draft of the 2013 budget yesterday that calls for a new wave of deep cuts which will save $10 billion next year. workers will protest proposed cuts to salaries, pensions and other benefits. last week, 50,000 people in athens demonstrated against austerity. wages in china are going up - by some estimates, about 17% a year. it is providing
it wasn't monday night football, but fed chairman ben bernanke was decidely defending yesterday. he said the fed needs to continue lowering borrowing rates while the economy continues to grow slowly, and that its bond-buying strategy will continue. he insisted that five years of low interest rate policies have not increased inflation. the fed plans to hold the interest rate near zero until at least mid- 2015. bernanke also indicated that there is not another recession on the horizon, but the...
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Oct 2, 2012
10/12
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KNTV
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ben bernanke said he's going to continue to buy bonds to keep interest rates down, so that this purchasing manager's number won't be an aberration. when you examine the fundamental stocks, you are playing what's known as the micro. when you take into account the big data numbers like the purchasing manager's index, you're making a macro analysis. again though like the idea of fighting the fed this micro/macro dichotomy might mean nothing to you unless you took ec 101. let's put it in terms that everybody can understand. anyone who's been to a museum or taken an art class knows that for years artists tried to paint pictures as if they were perfectly -- let's say they tried to capture the exact look. like a kodak camera. okay? that's called realism as the painters are indeed realistic. but as art progressed in the late 19th and early 20th century, you tend to get more -- let's say impressionist, less realist and then expressionists as the artists struggled to get beyond the four walls of the canvas, they took impressionism into the logical conclusion and coming up with spots and dots. my mod
ben bernanke said he's going to continue to buy bonds to keep interest rates down, so that this purchasing manager's number won't be an aberration. when you examine the fundamental stocks, you are playing what's known as the micro. when you take into account the big data numbers like the purchasing manager's index, you're making a macro analysis. again though like the idea of fighting the fed this micro/macro dichotomy might mean nothing to you unless you took ec 101. let's put it in terms that...
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Oct 1, 2012
10/12
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CNBC
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ben bernanke said he's going to continue to buy bonds to keep interest rates down, so that this purchasing manager's number won't be an aberration. when you examine the fundamental stocks, you are playing what's known as the micro. when you take into account the big data numbers like the purchasing manager's index, you're making a macro analysis. again though like the idea of fighting the fed this micro/macro dichotomy might mean nothing to you unless you took ec 101. let's put it in terms that everybody can understand. anyone who's been to a museum or taken an art class knows that for years artists tried to paint pictures as if they were perfectly -- let's say they tried to capture the exact look. like a kodak camera. okay? that's called realism as the painters are indeed realistic. but as art progressed in the late 19th and early 20th century, you tend to get more -- let's say impressionist, less realist and then expressionists as the artists strugged to get beyond the four walls of the canvas, they took impressionism into the logical conclusion and coming up with spots and dots. my mode
ben bernanke said he's going to continue to buy bonds to keep interest rates down, so that this purchasing manager's number won't be an aberration. when you examine the fundamental stocks, you are playing what's known as the micro. when you take into account the big data numbers like the purchasing manager's index, you're making a macro analysis. again though like the idea of fighting the fed this micro/macro dichotomy might mean nothing to you unless you took ec 101. let's put it in terms that...
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bernanke at the fed and to me would be our friend timothy geithner over at the treasury were talking of course about the fed buying the government bonds issued by the treasury which then the treasury uses to pay down the debt to finance the deficit at a low levels so it's a very vicious cycle that maybe people aren't as aware of the impacts and we're going to talk about it right that's all coming up next on the capital account with lauren lester thanks lauren that's going to do it now for the news but you can always check out our you tube channel you tube dot com slash r t america our website our t.v. dot com slash usa follow me on twitter as well we'll be back here and a half hour. i've . not. easy to be. easy to. see.
bernanke at the fed and to me would be our friend timothy geithner over at the treasury were talking of course about the fed buying the government bonds issued by the treasury which then the treasury uses to pay down the debt to finance the deficit at a low levels so it's a very vicious cycle that maybe people aren't as aware of the impacts and we're going to talk about it right that's all coming up next on the capital account with lauren lester thanks lauren that's going to do it now for the...
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bernanke and his chief dinse to fail and their efforts at turning up the thermostat on economic growth and getting america back to work again and anyway how do you quantify this stimulus impact anyway well the latest issue of grants interest rate observer cites a paper or produced by the federal reserve bank of new york titled the macro an economic effects of large scale asset purchase programs and in it the authors conclude that that asset purchase programs have become the norm today increase g.d.p. growth by less than a half a percentage point although the fact on the level of g.d.p. is very persistent while the programs marginal contribution to inflation is very small so exacting down to that less than half a percentage point let's turn to our guest though jim graham founder and editor of grant's interest rate observer in new york for more so first jim grant thank you so much for being on the show always work pleasure or the pleasure is all ours because first i just have a really simple question in light of that report you cited in your latest grant interested observer how on earth
bernanke and his chief dinse to fail and their efforts at turning up the thermostat on economic growth and getting america back to work again and anyway how do you quantify this stimulus impact anyway well the latest issue of grants interest rate observer cites a paper or produced by the federal reserve bank of new york titled the macro an economic effects of large scale asset purchase programs and in it the authors conclude that that asset purchase programs have become the norm today increase...
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today investors will here from federal reserve chairman ben bernanke. he'll discuss the fed's new stimulus program. stocks fell after the fed official said the plan will not create jobs. today medicare starts changing the way it does business. the agency will begin fining hospitals that has too many patients return within 40 days because of complication. it could affect 2,200 facilities and the average fine would be about $125,000. and an auction featuring the most famous outlaws in history raked in more than a million dollars. bonnie and clyde went down in a hail of gunfire, bonnie parker had a .38 taped to her thigh. yesterday the guns were auctioned off to the same bidder for a total of $524,000. wh >> ashley morrison here in new york. up next your monday morning weather and in sports a bizarre pre-game collision knocks down redskin starters and knocks them out of the game against the bucs. ♪ [ dog barking ] ♪ [ female announcer ] life is full of little tests, but your basic paper towel can handle them. especially if that towel is bounty basic. t
today investors will here from federal reserve chairman ben bernanke. he'll discuss the fed's new stimulus program. stocks fell after the fed official said the plan will not create jobs. today medicare starts changing the way it does business. the agency will begin fining hospitals that has too many patients return within 40 days because of complication. it could affect 2,200 facilities and the average fine would be about $125,000. and an auction featuring the most famous outlaws in history...
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Sep 28, 2012
09/12
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KRCB
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so, i could be ben bernanke's speech writer because he says the same thing every time he goes in front of the senate is we don't see any particular problem with inflation. really, we don't corn prices just nearly double in three months. so, how is it there is no inflation? >> reporter: do you get any sense that the ethanol mandate is going to change under either administration under obama or if romney would get elected? >> well is sure seems like the word ethanol has turned into a pejorative and it's not exactly the most positive topic. i just don't know that turning food into gasoline is necessarily what we want to be doing in the long term. >> reporter: and it affects this market? >> you bet it does. as corn prices go up cattle prices go up. simple as that. that's an input cost to feeding cattle is corn, so you've got to take cattle prices higher to offset that. >> reporter: thanks very much. >> you bet. >> tom: a quiet ending to the third quarter for stocks the major indices falling. the s&p 500 spent the entire session in negative territory. it made three failed attempts to get to
so, i could be ben bernanke's speech writer because he says the same thing every time he goes in front of the senate is we don't see any particular problem with inflation. really, we don't corn prices just nearly double in three months. so, how is it there is no inflation? >> reporter: do you get any sense that the ethanol mandate is going to change under either administration under obama or if romney would get elected? >> well is sure seems like the word ethanol has turned into a...
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Oct 1, 2012
10/12
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KPIX
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today investors will hear from federal reserve chairman ben bernanke. he'll discuss the fed's new stimulus program. aimed at buying morning backed securities. stocks fell after the fed official said the plan will not create jobs. today medicare starts changing the way it does business. the agency will begin fining hospitals that has too many patients return within 40 days because of complications. it could affect 2,200 facilities and the average fine would be about $125,000. and an auction featuring the most famous outlaws in history raked in more than a million dollars. bonnie and clyde went down in a hail of gunfire, bonnie parker had a .38 taped to her thigh. clyde had a .45 in his waist. yesterday the guns were auctioned off to the same bidder for a total of $524,000. >> ashley morrison here in new york. up next your monday morning weather and in sports a bizarre pre-game collision knocks down redskin starters and knocks them out of the game against the bucs. pre-game collision knocks down redskin starters and knocks them out of the game against the
today investors will hear from federal reserve chairman ben bernanke. he'll discuss the fed's new stimulus program. aimed at buying morning backed securities. stocks fell after the fed official said the plan will not create jobs. today medicare starts changing the way it does business. the agency will begin fining hospitals that has too many patients return within 40 days because of complications. it could affect 2,200 facilities and the average fine would be about $125,000. and an auction...
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Oct 2, 2012
10/12
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MSNBCW
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fed chief ben bernanke renewed the central bank's pledge to keep record low interest rates to spur the economy, even after it regains momentum. >>> analysts say winter holiday shopping will rise 4.1% this year. that's slightly lower than predictions for the past two years. >>> jpmorgan chase is the first target of a justice department investigation into the financial crisis. a civil lawsuit alleges bear stearns, bought by jpmorgan in a fire sale, carried out billions of dollars in mortgage-backed securities fraud. >>> american express has agreed to pay $112.5 million to settle federal charges of illegal late fees. >>> the multibillion-dollar fraud carried out by bernard madoff began as far back as the early 1970s. that's according to a rewritten indictment bringing new charges against four longtime madoff employees. >>> a trader joe's peanut butter recall linked to cases of salmonella has now spread to nut butter recalls at multiple national chains including whole foods, target and stop 'n shop. >>> honda is recalling 3,000 accords. >>> congratulations to yahoo!'s marissa mamaier. the
fed chief ben bernanke renewed the central bank's pledge to keep record low interest rates to spur the economy, even after it regains momentum. >>> analysts say winter holiday shopping will rise 4.1% this year. that's slightly lower than predictions for the past two years. >>> jpmorgan chase is the first target of a justice department investigation into the financial crisis. a civil lawsuit alleges bear stearns, bought by jpmorgan in a fire sale, carried out billions of...
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Sep 29, 2012
09/12
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WRC
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. >> you worked closely with ben bernanke. what kind of a job do you think ben bernanke has done? >> i think ben, like everyone in the crisis has done what he thinks is right and i think he was heroic during the crisis. i worry now, though, that he's continuing these very accommodating monetary policies which have, i think, tremendous risk and there's just no evidence that they do much good for our domestic economy. >> so you don't like qe3? >> i think it's a very bad idea. inflation risk and the incentives to take risks are significant. >> former fdic chairman sheila bair. >>> we'll be right back. when it comes to getting my family to eat breakfast, i need all the help i can get. i tell them, "come straight to the table." i say, "it's breakfast time, not playtime." "there's fruit, milk and i'm putting a little nutella on your whole-wheat toast." funny, that last part gets through. [ male announcer ] serving nutella is quick and easy. its great taste comes from a unique combination of simple ingredients like hazelnuts, skim milk and a hint of cocoa. okay, plates in the sink, grab
. >> you worked closely with ben bernanke. what kind of a job do you think ben bernanke has done? >> i think ben, like everyone in the crisis has done what he thinks is right and i think he was heroic during the crisis. i worry now, though, that he's continuing these very accommodating monetary policies which have, i think, tremendous risk and there's just no evidence that they do much good for our domestic economy. >> so you don't like qe3? >> i think it's a very bad...
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it's not widely understood, but that money that ben bernanke has been printing has been used to buy that debt and that's pushed treasury prices way up, bubble level. it is a bubble. what happens when it bursts? it will eventually. pretty soon people who lend it will say you can't pay it back and then you have killed the dollar. and the interest rates goes straight up and the economy goes straight down and ben will be unable to print out of trouble because it was printing that got us into the mess in the first place, i do not have a solution, only the conviction that we're indeed in another bubble and i don't know exactly how it will shake out. i don't know which investment will do well eventually, but i do know that this bubble will burst and when that happens, there will be a river of tears. so anyway, i've been to a lot of places. you know, i've helped a lot of people save a lot of money. but today...( sfx: loud noise of large metal object hitting the ground) things have been a little strange. (sfx: sound of piano smashing) roadrunner: meep meep. meep meep? (sfx: loud thud sound) what
it's not widely understood, but that money that ben bernanke has been printing has been used to buy that debt and that's pushed treasury prices way up, bubble level. it is a bubble. what happens when it bursts? it will eventually. pretty soon people who lend it will say you can't pay it back and then you have killed the dollar. and the interest rates goes straight up and the economy goes straight down and ben will be unable to print out of trouble because it was printing that got us into the...
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that's right he was giving the two fingered salute the big ben bernanke oh it's over max it's also known as the heart of resubmit the tongues of the wescott wind and the headline that goes with this q e three will not fix america's problems warns paul volcker paul volcker the former federal reserve chairman credited with taming the inflationary threat of the one nine hundred seventy s. has warned that further quantitative easing will fail to prepare economies in europe and the us well why i am a federal reserve bank which is the lender of last resort responsible for taking the punch bowl away when the party gets to rot is not do their job instead of being the lender of last resort there's a buyer a first resort they buy every schlock piece of junk bond that these investment banks that used to destroy the economy they'll take in their buyer and very garbage bond out there this was to be the buyer of first resort just went through the lender of last resort think completely screwed this thing up they got it all backwards and paul volcker of course back in the seventy's early eighty's he too
that's right he was giving the two fingered salute the big ben bernanke oh it's over max it's also known as the heart of resubmit the tongues of the wescott wind and the headline that goes with this q e three will not fix america's problems warns paul volcker paul volcker the former federal reserve chairman credited with taming the inflationary threat of the one nine hundred seventy s. has warned that further quantitative easing will fail to prepare economies in europe and the us well why i am...